Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 52-Week High - Should You Buy?

Key Points

• The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) reached a new 52-week high of $100.94, with the last trading price at $100.26.
• QQQE announced an increase in its quarterly dividend from $0.06 to $0.1422, reflecting an annualized yield of 0.57%.
• Several institutional investors, including Renaissance Technologies LLC, significantly increased their stakes in QQQE during the fourth quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $100.94 and last traded at $100.26, with a volume of 68611 shares. The stock had previously closed at $100.32.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 1.6%

The firm has a 50 day moving average price of $97.18 and a 200 day moving average price of $92.54. The stock has a market capitalization of $1.22 billion, a PE ratio of 27.96 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were issued a dividend of $0.1422 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $0.57 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Direxion NASDAQ-100 Equal Weighted Index Shares's previous quarterly dividend of $0.06.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 16.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,106 shares of the company's stock worth $369,000 after purchasing an additional 570 shares during the last quarter. KCM Investment Advisors LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter worth approximately $205,000. Renaissance Technologies LLC boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 93.0% in the 4th quarter. Renaissance Technologies LLC now owns 11,000 shares of the company's stock worth $987,000 after buying an additional 5,300 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 54.8% in the fourth quarter. Advisory Services Network LLC now owns 8,907 shares of the company's stock valued at $800,000 after acquiring an additional 3,153 shares in the last quarter. Finally, Waddell & Associates LLC increased its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.3% during the fourth quarter. Waddell & Associates LLC now owns 382,993 shares of the company's stock valued at $34,381,000 after acquiring an additional 8,548 shares during the last quarter.

About Direxion NASDAQ-100 Equal Weighted Index Shares

The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is an exchange-traded fund that is based on the NASDAQ-100 Equally Weighted index. The fund tracks an equal-weighted version of the NASDAQ 100. QQQE was launched on Mar 21, 2012 and is managed by Direxion.